To be liable for zakat, one's wealth must amount to more than a threshold figure, termed the "nisab".
To determine the nisab, the are two measures: either gold or silver.
Example: In 1423 AH, Suraya's zakatable wealth came to only £65. She owes no zakat.
The next year was better for her, and she now owns £2000 in zakatable wealth.
She will be liable for zakat after the money has been in her possession for a lunar year.
*Gold: The nisab by the gold standard is 3 ounces of gold (87.48 grammes) or its cash equivalent. This is approximately £650 or $926.40, but will vary with the current market value of gold. For the latest prices, refer to the Online Zakat Calculator
* Silver: The nisab by the silver standard is 21 ounces of silver (612.36 grammes) or its equivalent in cash. This is approximately £70 or $130.
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